2025 Tax Filing Season Opens January 27

January 17, 2025
The Internal Revenue Service (IRS) announced that the 2025 tax season will commence on January 27 of this year. The IRS will provide expanded and enhanced tools to help improve customer service...

Free File Open For Tax Filing

January 10, 2025
On January 10, 2025, the Internal Revenue Service (IRS) Free File program opened for tax filing. Through the Free File program, the IRS offers access to free tax software filing programs to millions of qualifying taxpayers...

Charitable Planning in 2025

January 3, 2025
A new year provides an excellent opportunity to consider plans for charitable gifts in 2025. These gifts could include an IRA charitable rollover, a gift of cash or a gift of appreciated property...

2025 Tax Filing Season Coming Soon

December 27, 2024
The Internal Revenue Service (IRS) reminds taxpayers that the 2025 filing season is rapidly approaching. The IRS is attempting to provide improved taxpayer services. One of the primary ways for taxpayers to benefit is to sign up for an IRS Online Account...

Business, Medical and Charitable Mileage Rates in 2025

December 20, 2024
On December 19, 2024, the Internal Revenue Service (IRS) published the standard mileage rates for 2025. The business use rate increased $0.03 to $0.70 per mile...

Strong Passwords Can Protect Data from Identity Thieves

December 13, 2024
The holiday season is a prime time for identity thieves to target victims. With the growth of online shopping, millions of Americans are potentially exposed to online fraudsters. The first line of defense against online attacks is strong passwords...

Deadline for IRA Required Minimum Distributions

December 6, 2024
December is an important month for IRA and 401(k) owners who are over age 73. The Internal Revenue Service (IRS) reminds taxpayers over age 73 to take a required minimum distribution (RMD) by December 31. Because some retirement plan custodians take time to process RMD requests, you should start your...

Time to Prepare for Tax Filing

November 29, 2024
Each year, the IRS publishes guidance to encourage taxpayers to prepare for the upcoming filing season. Each taxpayer should consider his or her potential credits, deductions and tax refunds...

Parents Protect Children and Teens With Good Online Security

November 22, 2024
The Internal Revenue Service (IRS) reminds parents to urge their children and teens to protect personal and financial information. The IRS Security Summit offers tips to parents during National Cybersecurity Month...

IRS Highlights IRA Gifts

November 15, 2024
On November 14, 2024, the Internal Revenue Service (IRS) explained that traditional IRA owners could make up to $105,000 in tax-free charitable donations this year through qualified charitable distributions (QCD)...

How to Make an IRA Gift To Charity

November 8, 2024
Each year the Internal Revenue Service (IRS) reminds owners of traditional IRAs who are over 70½ that they may make a charitable gift from a traditional IRA. The IRS refers to an IRA charitable rollover gift as a qualified charitable distribution (QCD). An added benefit for those who are age...

Happy Holidays For Fraudsters and Scammers

November 1, 2024
In IR-2024-283, the Internal Revenue Service (IRS) reminded taxpayers to be cautious about fraudsters during the holiday season...

How to Claim a 30% Home Energy Credit

October 25, 2024
On October 24, 2024, the Internal Revenue Service (IRS) released guidance on energy-efficient home improvement credits. The IRS explained the qualifications and rules for improving your home and making it more energy efficient...

Hurricane Milton Relief - IRS Warning About Disaster Scams

October 18, 2024
The Internal Revenue Service (IRS) announced recently that there will be tax relief for 51 counties in Florida. Many of the counties previously qualified for relief under Hurricane Helene, but at least six additional counties and other locations are included in the new relief...

IRA Required Minimum Distributions By December 31

October 11, 2024
Each year the Internal Revenue Service (IRS) reminds taxpayers over age 73 that they should take a required minimum distribution (RMD) by December 31...

30 Million Potential 2025 Direct File Users

October 4, 2024
The Internal Revenue Service (IRS) announced that there are 24 states participating in the Direct File program for the 2025 Filing Season...

Plan Ahead for End-of-Year Gifts in 2024

September 27, 2024
October is an excellent month to consider plans for end-of-year charitable gifts. These gifts could include an IRA charitable rollover, a gift of cash or a gift of appreciated land...

Benefit in 2024 With An IRA Charitable Rollover

September 20, 2024
Each year, traditional IRA owners of age 73 and older must take a required minimum distribution (RMD). In nearly all cases, the RMD is calculated using the Uniform Table. Under the Uniform Table, distributions generally commence at age 73 at approximately 3.8% and increase each year based on the age...

Enhanced IRS Taxpayer Support

September 13, 2024
On September 6, 2024, Treasury Secretary Janet Yellen spoke to the Internal Revenue Service (IRS) staff in Austin, Texas. Yellen praised the IRS staff for the improvements in taxpayer services. She started by noting, "Filing taxes, claiming credits and deductions, and getting refunds should be easy. But for too long...

September is Peak Hurricane Season

September 6, 2024
With the peak hurricane season in September, the Internal Revenue Service reminds taxpayers to protect their tax and financial records...